Question

Choose and discuss three of the most important services offered by the Federal Government that you think you can use to your advantage when starting a business of your own. Explain why you believe these services will help you be successful versus all the other services offered by this agency.

Answer 1

Three important services offered by federal government:

• Offer of Loans: federal governments provide loan facilities by encouraging local banks to work with start up businesses by providing low interest rates. They also target women groups, minorities etc and offer loans examples of such agencies can be SBA (Small business administration). All this will help in starting new businesses, increasing the employment opportunities which in turn will help in the economic development of the country.
• Research and development activities: in this case, the federal government will work with academic institutions to develop new technologies that will benefit the companies. They also provide grants to companies involved in making new product or service which improves various areas of economy like transportation, agriculture, energy etc. the federal government also help in funding for the research and development activities.
• Improvement of infrastructure: the government helps by providing better infrastructure facilities like building and maintaining new roads, constructing bridges, airports, seaports etc to help the companies in carrying their business smoothly by transporting the raw materials and finished goods from one place to another or to the destination.